Description
Owners, capital structure and company profile (2 Marks)Company Business Description (300 – 400 words) a. Your Business Name, Address, E‐Mail b. Form of ownership: What is the legal structure? Sole proprietor, Partnership, Corporation…. C. Investment capital A. Scope and type of business (4 Marks) What business will you be in? What will you do? What market segment will you choose? Business idea: what is your big idea? Is it a product or a service? What makes your idea different? Mission Statement Company’s short-term and long-term goals and objectives. Target market and demographics: Who will your customers be? Where do they live? What is your target market passionate about? B. Business Philosophy (4 Marks) What is important to you in your business? Describe your Industry: Is it a growth industry? What long-term or short-term changes do you foresee in the industry? How will your company take advantage of it? Describe your most important company strengths and core competencies: What factors will make the company succeed? What do you think your major competitive strengths will be? What background experience, skills, and strengths do you personally bring to this new venture? Risk Assessment: Evaluate the strengths and weaknesses of your business using SWOT. Who is your competition and how do you beat them? Note: Use APA style of referencingStudents are supposed to read the attached Case -Panda Sunglasses. Based on your understanding of the case and basic concepts of Entrepreneurship. Answer the following question: 1. How can social entrepreneurs such as the founders of Panada Sunglasses use their companies’ social missions to attract customers and promote their business? (2 marks) 2. How should the founders of Panada Sunglasses define a unique selling proposition for their company that resonate with customers? (2 marks) 3. Write a brief memo to the founders of Panda Sunglasses outlining a bootstrap marketing plan for the company? (2 marks) 4. Use the business model canvas to illustrate Panda Sunglasses business model. Can you identify other revenue streams that could support the company? How can the company strengthen its relationships with customers? (2marks) 5.How should the founders of Panda Sunglasses use social media to market their company and its products? What can they do to increase the traffic to and generate more sales from their company’s Web site? (2 marks) The Answer must follow the outline points below: Each answer should be within the range of 300 to 350-word counts.Reference Note: You can support your answer with the course book. You can use secondary sources available on internet.
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المملكة العربية السعودية
وزارة التعليم
الجامعة السعودية اإللكترونية
Kingdom of Saudi Arabia
Ministry of Education
Saudi Electronic University
College of Administrative and Financial Sciences
Assignment-1
MGT 402-Entrepreneurship and small business
Due Date: 14/10/2023 (End of Week-7) @ 23:59
Course Name: Entrepreneurship and
small business
Student’s Name:
Course Code: MGT402
Student’s ID Number:
Semester: First
CRN:
Academic Year: 2023-24
For Instructor’s Use only
Instructor’s Name:
Students’ Grade: Marks Obtained/Out
of 10
Level of Marks: High/Middle/Low
Instructions – PLEASE READ THEM CAREFULLY
• The Assignment must be submitted on Blackboard (WORD format only) via
allocated folder.
• Assignments submitted through email will not be accepted.
• Students are advised to make their work clear and well presented; marks may be
reduced for poor presentation. This includes filling your information on the cover
page.
• Students must mention question number clearly in their answer.
• Late submission will NOT be accepted.
• Avoid plagiarism, the work should be in your own words, copying from students
or other resources without proper referencing will result in ZERO marks. No
exceptions.
• All answered must be typed using Times New Roman (size 12, double-spaced)
font. No pictures containing text will be accepted and will be considered
plagiarism).
Submissions without this cover page will NOT be accepted
• Place of Submission is Blackboard.
• Weight 10 Marks
Learning Outcomes:
1. Describe the place of small business in history and explore the strengths and weaknesses of
small business.
2. Design a solid projected financial plan and conduct a breakeven analysis for a small company.
3. Demonstrate the ability to deliver and communicate marketing massages in coherent and
professional manner.
4. Illustrate the ability to think independently and systematically on developing a viable business
model.
Assignment Workload:
This assignment is an individual assignment.
An entrepreneur Start-up
Business Plan
A business plan is any simple plan, not only limited to the business start-up plan that helps the
management to understand the current situation of the enterprises (strengths, weakness,
opportunities and threats) and look forward into the future. A start-up plan is a business plan which
consists of the mission, vision, objectives and action plans for the future of the new enterprises
while the business plan drawn during the operation of the firm is vital for running the firm
effectively, acquire new customers, partners, loans and so on. According to Fiore (2005), a
business plan involves two dimensions; an organizing tool to simplify and clarify your business
goals and strategy, the second one is a selling document that sells the business idea and shows that
a product or a service can make a profit and attract funding and company resources.
Imagine you started a new business as an entrepreneur in Saudi Arabia. Briefly mention the
specific steps which you consider necessary to a successful business plan.
Please, think and share information on the following items:
1. Owners, capital structure and company profile (2 Marks)
a. Your Business Name, Address, E‐Mail
b. Form of ownership: What is the legal structure? Sole proprietor, Partnership,
Corporation….
C. Investment capital
2. Company Business Description (300 – 400 words)
A. Scope and type of business (4 Marks)
What business will you be in? What will you do? What market segment will you
choose?
• Business idea: what is your big idea? Is it a product or a service? What makes your
idea different?
• Mission Statement
• Company’s short-term and long-term goals and objectives.
• Target market and demographics: Who will your customers be? Where do they live?
What is your target market passionate about?
B. Business Philosophy (4 Marks)
What is important to you in your business?
• Describe your Industry: Is it a growth industry? What long-term or short-term changes
do you foresee in the industry? How will your company take advantage of it?
• Describe your most important company strengths and core competencies: What factors
will make the company succeed? What do you think your major competitive strengths
will be? What background experience, skills, and strengths do you personally bring to this
new venture?
• Risk Assessment: Evaluate the strengths and weaknesses of your business using SWOT.
•Who is your competition and how do you beat them?
Note: Use APA style of referencing
Answers:
1.
2.
Case 1
Panda Sunglasses
How Should a Start-Up Business with
a Social Mission Market Its Sunglasses
with Bamboo Frames?
V
incent Ko showed his entrepreneurial potential in high
school in Rockville, Maryland, when, as a young hockey
player, he invented a drying rack for hockey pads that he sold
to his teammates, then on eBay, and finally on a Web site for
the company he created. A few years later, while attending
George Washington University in Washington, D.C., Ko and
two friends, Luke Lagera and Mike Mills, were inspired by
the growing social entrepreneurship movement and the success of companies such as TOMS shoes, a company founded
by Blake Mycoskie that donates a pair of shoes to someone in need for every pair it sells. One day while walking
through the Georgetown shopping district, the friends noticed a display of sunglasses and decided to create a business
that would market cool sunglasses and provide eye examinations to someone in need for every pair sold. In keeping with
the idea of a socially responsible company, Ko suggested
that they make their sunglasses frames from eco-friendly
bamboo, a lightweight, sturdy wood that grows extremely
fast. Having grown up in China, Ko was familiar with the
properties of the renewable wood and knew that it was the
perfect material from which to make sunglasses frames.
They created a company, Panda Sunglasses, and set out
to find companies that could make the product they envisioned. Ko knew bamboo was the most commonly used wood
in China, so the team began looking for a company in China
to manufacture the frames to their specifications. Not only
did they find a Chinese wood shop that would make their
sunglasses frames, but they also located a Chinese eye wear
manufacturer to produce the polarized lenses. Pairing the two
companies gave them their unique, stylish sunglasses, which
float. They created a Web site and began selling them at $120
a pair. Through a connection that Lagera had, the young
entrepreneurs found an ideal partner in the Tribal Outreach
Medical Association (TOMA), a nonprofit organization that
provides eye examinations and other health services for tribal
communities. They quickly reached a deal: For every pair of
Panda Sunglasses sold, the company would pay for one eye
exam through TOMA.
The entrepreneurs’ next challenge was to market their
unique sunglasses and their potential to help people in need.
They knew that without sales, their effort at “conscious capitalism” would be for naught. None of the three cofounders
had any experience in the retail industry, but they learned
quickly on the job. The young men had just graduated and
took “regular” jobs to pay their bills, but they remained
690
dedicated to making Panda Sunglasses a success. After testing sales of their sunglasses online, the trio began applying for
spots in various trade shows geared toward accessories. One
of the shows they applied to was the prestigious ENK International trade show, which attracts more than 250,000 buyers
and press members from across the globe. Companies that are
accepted to the juried show find sales leads that generate total
sales of more than $1 billion. Mills sent Ko an e-mail in which
he joked that they would be willing to set up in a broom closet
at ENK if their application were accepted. Ko forwarded that
e-mail to executives at ENK, who responded with, “We’ll find
you a booth instead.” At the ENK show, Ko says he and his
cofounders, fresh out of college, created a booth that featured
a giant bamboo backdrop that attracted a great deal of attention. At one point, they struck up a conversation with three
women, who they learned were buyers from the retail chain
Nordstrom. The trade show opened many doors for the young
company, and less than two years after starting, Panda Sunglasses was generating annual sales of $350,000.
Questions
1. How can social entrepreneurs such as the founders of
Panda Sunglasses use their companies’ social missions
to attract customers and promote their businesses?
2. How should the founders of Panda Sunglasses define
a unique selling proposition for their company that
resonates with customers?
3. Write a brief memo to the founders of Panda
Sunglasses outlining a bootstrap marketing plan
for the company.
4. Use the business model canvas to illustrate Panda Sunglasses’s business model. Can you identify other revenue
streams that could support the company? How can the
company strengthen its relationships with customers?
5. How should the founders of Panda Sunglasses use
social media to market their company and its products?
What can they do to increase the traffic to and generate
more sales from their company’s Web site?
Sources: Based on Nancy Dahlberg, “Start-up Spotlight: Panda,” Miami
Herald, June 29, 2014, http://www.miamiherald.com/2014/06/29/v-print/
4207736/startup-spotlight-panda.html; Olga Khazan, “Panda Glasses
Are TOMS Shoes for Your Face,” Washington Post, May 24, 2012, http://
www.washingtonpost.com/blogs/on-small-business/post/panda-glassesare-toms-shoes-for-your-face/2012/05/23/gJQAsOPhlU_blog.html;
Alicia Ciccone, “Vincent Ko, Panda Sunglasses: Sustainable Bamboo
Eyewear That Gives Back,” Huffington Post, May 25, 2012, http://www
.huffingtonpost.com/2012/05/25/vincent-ko-panda-sunglasses_n_1544043
.html; “Panda Sunglasses Are More Than Meets the Eye,” Asian Fortune,
April 25, 2014, http://www.asianfortunenews.com/2014/04/pandasunglasses-are-more-than-meets-the-eye/; Zach Gordon, “Alums’
Business Aims to Help the Needy,” The Hoya, May 17, 2012, http://www
.thehoya.com/alums-business-aims-to-help-the-needy/.
Assignment-1 Rubrics
Criterion/Achievement
Company Profile
(2Mark)
Scope & Business type
(4 marks)
Business Philosophy
(4 marks)
Excellent
100%
Good
(75%
Average
50%
Satisfactory
25%
Clearly
mention all 3
aspects
Perfect
explanation
Clearly
mention only 2
aspects
relevant
Explanation
Only mention
company name
and email
Some
information
Stated clearly 4
factors of
SWOT
Stated with
some relevant
3 factors of
SWOT
Clearly
mention only1
aspect
not clear with
relevant
information
clear with
relevant 2
factors of
SWOT
Some
information
relevant 1 factor
SWOT
Poor
(00)mark
00%
No
information
No
information
is given
No
information
is given
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